Franklin Resources Inc. Acquires 189,081 Shares of BorgWarner Inc. (NYSE:BWA)

Franklin Resources Inc. raised its holdings in shares of BorgWarner Inc. (NYSE:BWA) by 292.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253,625 shares of the auto parts company’s stock after purchasing an additional 189,081 shares during the quarter. Franklin Resources Inc.’s holdings in BorgWarner were worth $8,986,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Matrix Trust Co bought a new position in shares of BorgWarner in the third quarter valued at about $25,000. LRI Investments LLC raised its holdings in BorgWarner by 2,685.3% in the 2nd quarter. LRI Investments LLC now owns 947 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 913 shares during the period. Sentry Investment Management LLC acquired a new stake in BorgWarner during the second quarter worth approximately $32,000. Brooklyn Investment Group bought a new stake in shares of BorgWarner during the third quarter worth approximately $32,000. Finally, True Wealth Design LLC acquired a new position in shares of BorgWarner in the third quarter valued at approximately $38,000. 95.67% of the stock is owned by institutional investors.

Insider Transactions at BorgWarner

In other news, VP Stefan Demmerle sold 21,500 shares of BorgWarner stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $34.79, for a total transaction of $747,985.00. Following the transaction, the vice president now owns 227,513 shares in the company, valued at approximately $7,915,177.27. The trade was a 8.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Isabelle Mckenzie sold 5,700 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.62, for a total value of $197,334.00. Following the completion of the sale, the vice president now owns 37,640 shares of the company’s stock, valued at $1,303,096.80. The trade was a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 222,010 shares of company stock worth $7,678,076. Insiders own 0.45% of the company’s stock.

Wall Street Analysts Forecast Growth

BWA has been the subject of several research reports. The Goldman Sachs Group dropped their price target on BorgWarner from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BorgWarner from $38.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Evercore ISI raised shares of BorgWarner from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $39.00 to $43.00 in a research report on Monday, October 14th. JPMorgan Chase & Co. cut their price objective on shares of BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Wolfe Research initiated coverage on shares of BorgWarner in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.07.

BorgWarner Price Performance

BWA stock opened at $31.88 on Friday. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 8.09, a P/E/G ratio of 0.77 and a beta of 1.19. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.84 and a quick ratio of 1.48. The company has a 50 day simple moving average of $34.12 and a 200 day simple moving average of $33.56. BorgWarner Inc. has a 1 year low of $29.51 and a 1 year high of $38.22.

BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.17. BorgWarner had a net margin of 6.33% and a return on equity of 15.51%. The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the business earned $0.98 earnings per share. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. Research analysts anticipate that BorgWarner Inc. will post 4.22 EPS for the current fiscal year.

BorgWarner Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Monday, December 2nd. BorgWarner’s payout ratio is 11.17%.

BorgWarner Company Profile

BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.